Hi friends, I’ve been trying to figure out how to best help my parents in their mid 50s to help save for retirement. They’re immigrants, didn’t understand the value of 401k until recently and couldn’t afford early on (they have 401k now but not a whole lot). They have about 50K extra put aside, I’m trying to figure out if they should add to their mortgage or invest (they are pretty scared of investing) I was thinking some for house payment to bring down principal and rest in Roth, thoughts?

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Bruh. What. We are the retirement plan. They poured everything into us to get us here. Now it's your turn to lift. Frankly there's not a whole lot of investing they can do at this point that would return meaningful passive income in 10-15 years.

likeupliftingfunny

What kind of returns are you looking for? Maybe a HYSA is sufficient? HMBradley credit card. Or yolo with crypto

Depending on the mortgage interest rate, it is probably "statistically" a higher return on an index fund, but your parents may not be interested in that.

Roth will be good, max it out if possible.

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Dont pay the mortgage off then. That’s practically free money and will be cheaper over time given the interest rates

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